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BioSolar to Build Prototype Batteries for Power Tool Applications

December 4, 2018

SANTA CLARITA, Calif., Dec. 04, 2018 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced that the first group of prototype batteries incorporating the Company’s silicon additive technology will be for the power tool market, a product development strategy the Company believes creates a much shorter path to commercialization. Consumer electronics and electric vehicles are among the largest categories of battery applications. However, the power tool market, which includes products such as vacuum cleaners and handheld drills, is also reliant upon fast charging batteries capable of intense use over a shorter period of time. According to a Research and Markets report, the global power tool battery market is forecast to grow at a CAGR of 8.12% during the period 2017-2021. This growth is fueled by innovation that has increased the efficiency of power tools, a requirement for modern construction and home use, but still requires innovation among lithium-ion and other battery technologies to maintain its trajectory. The development cycle for power tool applications can be less than a year, whereas the automotive sector often requires four to five years and the consumer electronics sector may require up to two. While the Company continues both its individual research and joint development work with international battery manufacturers to bring its silicon anode additive technology to market, BioSolar will first focus on building commercial grade prototypes to determine the viability of commercialization within the power tool market. “We are fortunate as a Company to make decisions from a position of strength, that being the foundation of our battery development technologies that we believe possesses numerous applications,” said Dr. David Lee, Chief Executive Officer of BioSolar. “It is for this reason that we have placed an emphasis on developing commercial grade prototype batteries to determine commercial viability within the power tool sector, one that is expected to grow as demand for better, longer-lasting power tools remains high. We also believe any information gleaned from such research will bolster our activity in other areas of development, including consumer electronics and electric vehicles.

About BioSolar, Inc.

BioSolar is developing a breakthrough technology to increase the storage capacity, lower the cost and extend the life of lithium-ion batteries. A battery contains two major parts, a cathode and an anode, that function together as the positive and negative sides. BioSolar is currently investigating high capacity anode materials recognizing the fact that the overall battery capacity is determined by combination of both cathode and anode. By integrating BioSolar’s high capacity anode, battery manufacturers will be able to create a super lithium-ion battery that can double the range of a Tesla, power an iPhone for two days straight, or store daytime solar energy for nighttime use. Founded with the vision of developing breakthrough energy technologies, BioSolar’s previous successes include the world’s first UL approved bio-based back sheet for use in solar panels.

To learn more about BioSolar, please visit our website at http://www.biosolar.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company with the United States Securities and Exchange Commission.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

CONTACT INFORMATION

Investor Relations Contact: Tom Becker BioSolar, Inc. ir@biosolar.com (877) 904-3733 For Media Inquiries: Eric Fischgrund FischTank Marketing and PR eric@fischtankpr.com

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